Hologic (NASDAQ:HOLX) Announces Earnings Results

Hologic (NASDAQ:HOLX) posted its earnings results on Monday. The medical equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.04, Briefing.com reports. Hologic had a return on equity of 19.65% and a net margin of 17.59%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the firm earned $0.93 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year.

Hologic Stock Down 1.1 %

NASDAQ HOLX traded down $0.90 during trading on Wednesday, reaching $81.61. The company’s stock had a trading volume of 2,851,485 shares, compared to its average volume of 1,635,271. The company has a current ratio of 3.97, a quick ratio of 3.29 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $19.05 billion, a PE ratio of 42.10, a PEG ratio of 2.65 and a beta of 0.99. Hologic has a 1-year low of $64.02 and a 1-year high of $82.65. The business has a 50-day moving average price of $74.82 and a 200-day moving average price of $75.15.

Insider Buying and Selling at Hologic

In related news, CEO Stephen P. Macmillan sold 3,672 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $80.13, for a total value of $294,237.36. Following the completion of the transaction, the chief executive officer now owns 1,157,562 shares of the company’s stock, valued at $92,755,443.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Stephen P. Macmillan sold 3,672 shares of Hologic stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $80.13, for a total transaction of $294,237.36. Following the completion of the sale, the chief executive officer now owns 1,157,562 shares in the company, valued at approximately $92,755,443.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christiana Stamoulis sold 9,039 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $79.50, for a total transaction of $718,600.50. Following the transaction, the director now owns 45,472 shares of the company’s stock, valued at approximately $3,615,024. The disclosure for this sale can be found here. Corporate insiders own 1.75% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on HOLX shares. Royal Bank of Canada increased their price objective on shares of Hologic from $81.00 to $82.00 and gave the company a “sector perform” rating in a research report on Tuesday. Stephens reaffirmed an “overweight” rating and issued a $92.00 price objective on shares of Hologic in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on Hologic from $91.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday. Evercore ISI lifted their target price on Hologic from $76.00 to $78.00 and gave the company an “in-line” rating in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Hologic in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Hologic has a consensus rating of “Moderate Buy” and an average target price of $87.45.

Hologic Company Profile

Hologic, Inc develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment. The company operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health. It provides Aptima molecular diagnostic assays to detect the infectious microorganisms; Aptima viral load assays for Hepatitis B virus, Hepatitis C virus, human immunodeficiency virus, and human cytomegalo virus; Aptima bacterial vaginosis and candida vaginitis assays for the diagnosis of vaginitis; Aptima SARS-CoV-2 and Panther Fusion SARS-CoV-2 assays to detect SARS-CoV-2; ThinPrep System for cytology applications; and Rapid Fetal Fibronectin Test that assists physicians in assessing the risk of pre-term birth.